MARC has affirmed its AAA financial institutions rating on Bank Pembangunan Malaysia Berhad (BPMB).  In addition, MARC has also affirmed its MARC-1ID/ MARC-1 programme ratings on BPMB’s up to RM2.0 billion Islamic and/or Conventional Commercial Papers (CP) Programme with a stable outlook.  The ratings continue to reflect support uplift from the Government of Malaysia on account of ...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds (CMBS 2007-2) of RM2,410.0 million with a stable outlook. The rating action affects the outstanding bonds of approximately RM1,895.0 million. The affirmed rating on the residential mortgage-backed bonds reflect a strong credit enhancement level of 133.7% for the outstanding bonds, supp...

MARC has affirmed its AAAIS rating on Cagamas MBS Berhad’s (Cagamas MBS) RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. The rating action affects outstanding Sukuk of approximately RM1,525.0 million, following the redemption of the RM255.0 million Tranche 2 Sukuk on May 29, 2012. The affirmed rating reflects a strong credit enhancement level o...

MARC has affirmed its rating of AAAIS(bg) and AAAIS(fg) on Ranhill Power Sdn Bhd’s (Ranhill Power) RM300 million bank guaranteed (Tranche 1) and RM500 million Danajamin Nasional Bhd (Danajamin) guaranteed (Tranche 2) Sukuk Musharakah facility respectively. The outlook for both ratings is maintained at stable.The rating on Tranche 1 reflects the credit strength of an unconditional and irrevoc...

MARC said today that Berjaya Sports Toto Berhad’s (BToto) proposal to transfer BToto’s 100%-equity interest in Sports Toto Malaysia Sdn Bhd (Sports Toto) to a business trust in Singapore will have no immediate impact on Sports Toto’s current rating of AA-/stable on its RM800 million Medium Term Notes (MTN) programme. As of June 18, 2012, the outstanding amount under the MTN programme is RM55...

MARC has withdrawn its ratings on Puncak Niaga (M) Sdn Bhd’s (PNSB) issuances as follows:  IssuesCurrent RatingsOutstanding Amount(RM million)1)RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS)BBBID1,020.02)RM546.88 million Junior Notes A (A Notes)BB+328.13)RM435.0 million Redeemable Unsecured Bonds (RUB)BB+435.0Acqua SPV Bhd (ASPV), a wholly-owned subsidiary of Pengurusa...

MARC has affirmed its ratings of AAAID(S) on the respective Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) issuances of PETRONAS Chemicals Glycols Sdn Bhd (Glycols) (formerly known as Optimal Glycols (Malaysia) Sdn Bhd) and PETRONAS Chemicals Derivatives Sdn Bhd (Derivatives) (formerly known as Optimal Chemicals (Malaysia) Sdn Bhd) with a stable outlook. The rating actions affect RM15...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed fixed rate serial bonds of RM2,060.0 million (CMBS 2005-2) with a stable outlook. The rating action affects the outstanding bonds of RM1,585.0 million. The affirmed rating on the residential mortgage-backed bonds reflect strong credit enhancement levels for the outstanding bonds based on the transaction&rs...

MARC has withdrawn its MARC-1ID/AAAID ratings on Putrajaya Holdings Sdn Bhd’s (PJH) RM1.5 billion Murabahah Commercial Papers/Medium Term Notes Programme with immediate effect following the cancellation of the programme as confirmed by its facility agent, AmInvestment Bank Berhad. There was no outstanding amount at the time of cancellation.MARC’s analytical coverage on PJH is now limit...

MARC has affirmed the AAAID rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah issuance (CMBS 2005-1) of RM2,050.0 million with a stable outlook. The rating action affects the outstanding Sukuk of approximately RM1,585.0 million. CMBS 2005-1 is an Islamic issuance which represents the second residential home financing securitisation issuance by Cagamas MBS. The transa...